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MIFIDPRU Sch 2 Notification requirements

MIFIDPRU Sch 2.1G
  1. (1)

    1The aim of the guidance in the following table is to provide an overview of the relevant notification requirements in MIFIDPRU.

  2. (2)

    It is not a complete statement of those requirements and should not be relied on as if it were.

  3. Handbook reference

    Subject of notification

    Trigger events

    Time allowed

    MIFIDPRU 1.2.4R(3)

    Applying alternative calculation for AUM or COH for SNI MIFIDPRU investment firm criteria

    Decision to apply alternative approach

    Not applicable

    MIFIDPRU 1.2.4R(4)

    Ceasing to apply alternative calculation for AUM or COH for SNI MIFIDPRU investment firm criteria

    Decision to cease applying alternative approach

    Not applicable

    MIFIDPRU 1.2.7R(2)

    Use of end-of-day value for calculating average CMH for SNI MIFIDPRU investment firm criteria

    Record-keeping or reconciliation error as described in MIFIDPRU 1.2.7R(1)

    Immediate notification

    MIFIDPRU 1.2.13R(2)(b)

    Non-SNI investment firm meeting criteria to be classified as an SNI MIFIDPRU investment firm

    Meeting SNI MIFIDPRU investment firm criteria for at least 6 months

    Not applicable

    MIFIDPRU 1.2.16R

    Firm ceasing to meet one of the criteria to be classified as an SNI MIFIDPRU investment firm

    Ceasing to meet one or more of the SNI MIFIDPRU investment firm criteria

    Prompt notification

    MIFIDPRU 2.5.17R(2)(f)

    Application of proportional consolidation to a participation meeting the conditions in MIFIDPRU 2.5.17R

    Decision to apply proportional consolidation

    Not applicable

    MIFIDPRU 3.3.3R(2)

    Notification of subsequent issuance of capital instruments qualifying as common equity tier 1 capital

    Proposed issuance of capital instruments of an existing class of common equity tier 1 capital

    No fewer than 20 business days before the issuance

    MIFIDPRU 3.6.3R

    Notification of proposed reduction, repurchase, call or redemption of own funds instruments where conditions in MIFIDPRU 3.6.4R are met

    Proposed redemption of own funds instruments where conditions in MIFIDPRU 3.6.4R are met

    No later than the 20th business day before the day on which the reduction, repurchase, call or redemption will occur

    MIFIDPRU 3.6.5R

    Notification of proposed issuance of additional tier 1 instruments or tier 2 instruments

    Proposed issuance of additional tier 1 instruments or tier 2 instruments

    At least 20 business days before the intended issuance date

    MIFIDPRU 4.12.7R

    Notification of non-material change or non-material extension in use of an internal model for the K-NPR requirement

    Proposal to implement a non-material change to a model or to extend the use of a model in a non-material manner

    Not applicable

    MIFIDPRU 4.12.10R

    Use of own estimates for delta for standardised approach to market risk of options

    Decision to apply own estimates for delta where conditions in MIFIDPRU 4.12.10R are met

    Not applicable

    MIFIDPRU 4.13.10R

    Notification that conditions for use of K-CMG permission are no longer met

    Portfolio ceasing to meet conditions in MIFIDPRU 4.13.9R for use of a K-CMG permission

    Immediate notification

    MIFIDPRU 4.13.20R

    Notification that firm will calculate the K-NPR requirement for a portfolio for which it previously had a K-CMG permission

    Decision to calculate the K-NPR requirement for a portfolio where conditions in MIFIDPRU 4.13.19R are met

    Not applicable

    MIFIDPRU 5.6.3R

    Notification that concentration risk soft limit has been exceede

    Exceeding concentration risk soft limit for a client or group of connected clients as specified in MIFIDPRU 5.6.2R

    Notification without delay

    MIFIDPRU 5.9.3R

    Notification that “hard” exposure limits in MIFIDPRU 5.9.1R have been exceeded

    Exceeding limit in MIFIDPRU 5.9.1R

    Notification without delay

    MIFIDPRU 5.11.2R

    Exemption from MIFIDPRU 5.2 to MIFIDPRU 5.10 for commodity and emission allowance dealers

    Decision to apply exemption where conditions in MIFIDPRU 5.11.1R are met

    Not applicable

    MIFIDPRU 7.1.9R

    Notification that firm has met necessary conditions to fall within either MIFIDPRU 7.1.4R(1)(a) or (b) for a continuous period of at least 6 months

    Meeting conditions in either MIFIDPRU 7.1.4R(1)(a) or (b) for a continuous period of at least 6 months

    Not applicable

    MIFIDPRU 7.1.12R

    Notification that firm no longer meets the conditions necessary to fall within MIFIDPRU 7.1.4R(1)(a) or (b)

    No longer meeting conditions in No longer meeting conditions in MIFIDPRU 7.1.4R(1)(a) or (b) when the firm previously did so when the firm previously did so

    Prompt notification

    MIFIDPRU 7.6.11R

    Notification where own funds fall below certain specified levels

    Own funds falling below levels specified in MIFIDPRU 7.6.11R

    Immediate notification

    MIFIDPRU 7.7.14R

    Notification where liquid assets fall below certain specified levels

    Liquid assets falling below levels specified in MIFIDPRU 7.7.14R

    Immediate notification

    MIFIDPRU 7.8.4R

    Firm’s choice of submission date(s) or change of submission date(s) for data item MIF007 (ICARA assessment questionnaire)

    Initial choice of submission date or change of submission date for data item MIF007

    Not applicable

    MIFIDPRU TP 1.8R

    Notification of firm’s intentions in relation to additional tier 1 instruments issued before 1 January 2022

    Firm has outstanding additional tier 1 instruments on 1 January 2022

    By no later than 1 January 2022

    MIFIDPRU TP 7.4R

    Notification to treat capital instruments issued before 1 January 2022 as own funds under MIFIDPRU 3

    Firm has issued capital instruments before 1 January 2022 that it wishes to treat as own funds under MIFIDPRU 3

    By no later than 1 January 2022